Tianjin Capital, China Environment Stocks Gain on Government Plan
Tianjin Capital Environmental Protection Group Co. led gains of China environmental-related stocks after the government said it will increase investment to the environmental protection industry.
Tianjin Capital jumped 4.8 percent to 5.50 yuan as of 10:19 a.m. in Shanghai, set for its biggest rise since Aug. 25. The stock gained 2.8 percent to HK$1.85 in Hong Kong, the first increase in six days. Sound Environmental Resources Co. added 2.2 percent to 25.09 yuan in Shenzhen. Shanghai Chengtou Holding Co. added 3.3 percent to 6.29 yuan.
China plans to include environmental protection investment in the annual fiscal budgets at all levels of government, according to a statement posted on the government’s website yesterday following a meeting of the cabinet, headed by Premier Wen Jiabao.
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